MegaUpload Founder Kim Dotcom Released on Bail

MegaUpload founder Kim Dotcom was released on bail Wednesday, after a New Zealand court had decided he lacked the means to flee the country.

Dotcom, who allegedly facilitated millions of illegal downloads through his file-sharing Web site, had been in custody since his arrest Jan. 20.

MegaUpload and Megavideo were raided Jan. 20 by the U.S. government. Kim Schwartz aka Dotcom was charged with racketeering, copyright infringement and money laundering.

I am relieved to go home to see my family, my three little kids and my pregnant wife, Dotcom told reporters outside the court. And I hope you understand that that is all I want to say right now.

The North Shore District Court initially denied bail last week. However, Dotcom appealed against that decision, saying that he was not a flight risk.

A suspicion that because Mr Dotcom is very wealthy means that he must have assets he has not revealed is not evidence of further assets and cannot now be used against him, said Dawson.

The Associated Press reported that Dotcom was released without any monetary bail bond, which is standard in New Zealand's district courts. Ministry of Justice officials declined to reveal the conditions of his release.

The New Zealand authorities have reportedly seized Dotcom's millions of dollars in investments and assets which include luxury cars and artworks.

New Zealand courts had earlier granted bail to Dotcom's colleagues.